Report & Finon¢ial Stst¢mdhts for the Yeor Ended 31 December 21123 for Th¢ T¢nby Remef ID Need and Penslons Charlty ChArity f4umber: 231233 Ashmole & Co Chart¢red Certified kn¢oulltaDts Will1n House 7 Goat Strvl Haverfordwest
The Tenby Relfief in Need and Pensions Charity Contents of the FinanciaI Statements for the Year Ended 31st December 2023 Charity knforniation Trust¢¢s Report Stat¢m¢nt of Trustees Responsibilities Report of thc Jndq)endent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Ststcmcllts 8- 11
The Tenby Relief in Need #Dd P¢mslons Charity Charity Informatlon for the ye ended 3Jst Deeember 2023 REGISTEFED CHARITY NUMBER: 231233 TRUSTEES: MrC.Hu Mrs S. Willi8n]s Mr C.R. Webb Mrll Grigg Mrs M.A. Crny Mrs E.M. Craig Mrs E. PowlinB Mrs S. Lane Mr A.J. Davies Mr P. Smith Mr M. Rot)owilz CHIEF ADMINISTRATOR: Mr C. Mathi88 ADMNJSTRATIVE OFFICE: clo Lewis, Lewis & Co Couttty Cha Pentre Road SL Clears SA33 4L4 BANKERS., Barclays Bank Tenby P¢mbmk¢shire SOIJCITORS: L¢ll, Lry$ & Co County Chambers Pentr¢ Ro*J St. Clear8 SA33 4AA Asbmole & Co Williatnston House 7 Goat Strcet Haverfordwest Pembrokesl)ire SA61 IPX
The Tenby Relief in N¢ed and Pensions Charity Report of the Trustees for the year ended 31" December 2023 The trustees Present theirTepDrt with the funCIal statements of the charity for the year ended 31" December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in aordance with the Finala1 Rq)orting Standard for Smaller Entities (th¢ FRSSE) (¢ffe¢tive l January 2015) and chariti Act 2011. STRUCTURL GOVERNANCE AND MANAGEMENT This is an un1nco)rated association governed by a Charity Commission Scherne made on the 8 February 1978 following the amalgamation of 21 separate funds based in Tenby, the oldest of which was created in 1581. The trustees consist of six nominative trustees apW)1nt by thetown council of Tenby and nine co-optative trustees. Nominative trustees are appointed to serve for a period of four years and co-optative for a period of five years. by resolution ofthe Trustees at special meetings. Trustees are selected based upoll the individuals personal or professional qualifications which arc considered to be beneficial to the future direction of the charity. A sub committee made up of six nominated trnstees reviews each application made to the chariiy. The sub committee will then rep<)rt back, and make I0MMendationS to ihe full Commiltee of trnstees. A full list of Trustees during the year is presenled on page l. Trnslees SponsIbl11ties atr listed onpage 4. ORJECTIVES AND ACTIVITIES Its object is to r¢li¢v¢ persons resident in the community of Tenby who in condition ofnee(L hardship or distr¢ss by payment of pensions or payment for item4 services or facilities calculated to rcducc such need, hardship or distrcss. ACHIEVEMENTS AND PERFORMANCE During the year the charity has been able to continue its provision of relief payments to pensioners in the Tenby commuDity> to achieve ils objective to reduce hardship or dtstress. Fll¥ANCIAL REVIEW AND RESERVES The results for Ihe yr and the financial position for the charity are psented in ihe financial statements on page six to sevej). Income for the year increased by £7,026 to £47.918. Relief pajinents increased by £3,048 to £26,620. Stock market perforniance during th¢ year prothiced an unrealised gain on investments of £33,727. The overall result of this activity was to increase the reserves available to the charity by £48,365.
The Tenby Relief in Need and Pensions Ch*rity Report of tbe Trustees for the year ended 31¥t December 2023 In setting their reserves the Tntee8. (a) feel that there should be ServeS to cover one years pensions in the event of any calamity. (b) are aware that they have continuing responsibilities in regards to the maintenanc¢ and pair of their properties. The trnstees need to maintsin a general reserve equivalent to one years pension payments. Jn addition, an Extraordinary Repair Fund is designated in order to meet the cost of unfO$¢¢n property repairs. The Pernianent Endowment represents the properties and investments from which income is generdta for ¢haritabl¢ pUoSeS,. if the pr(werties ar¢ sold the charity must invest the prw¢eds as part of th¢ Pernianent Endowment. Investment Powers The governing dUMent provides that all cash belonging to the charity and not needed for immediate working PUTtrf)ses shall be invested in the name of the Official Custimjian unless the Charity Commission¢TS dir¢ct othenvisc. Grant Makin Polic and Grant Anal sil Applications for support are assessed Oll need and the age of the applicattt with a tendellcy to favouT older applicants. Once a grant has been it would llonnally continue foT the Iife of the beneficiary. During the ycar the grant awards remained at £20 per month and are all made to individuals. llldividuals also Te1ve a £20 bonus at Christnlas. Durlng the year grnnts were made to some 102 persons. Risk Reiiew The Trustees have a duty to identify the major risks to v/hich the charity is exposed and to ensure appropriate controls are in place to provide asonable assurance against fraud and error. We have examined the major stt7tegic business and operational risks which the charity faces and ¢onfinn that systems have been established to enable regular reports to be produced so that the necessary steps ¢an b¢ taken to lessen those risks. For and on behalf of the truste¢s' Date.. Mr C. Hughes - Chairperson
The Tenby Relief in Need and Pensions Charity Report of the Trustees for the year ended 31 December 2023 STATEMENf OF TRUSTEES RESPONSiBILrriES The trustees are responsible for prcparing thc Report of the Trustets and the financial statements in accordance with applicable law and United King(bm Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applTrcable to charities in Enand and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 28 and the provisions of the trust deed requires the trustecs lo prepare f]nancial statements for each fllwicial year which give a truc alld fair view of the state of affairs of the charity and of the incoming resources and application of resouwe including the income and expenditurc, of the charity for that pcriod. surplus or deficit of thc charity for that p¢rioLi In preparing those fllLancial statements, the tte¢S are required to: (i) select suitable accounting policies and apply them consistently,. (li) make judgements and estimates that are reasonable and prndent. (iii) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. (iv) obsetve the methods and Principles in the Charily SORP; The trusl¢¢s are r¢sponsible for ke¢ping proper a¢¢ountin8 records which disclo with reasonable accuracy at any time the funCIal position of the charity and lo enable them to ensure that the financial statements comply with applicable Accounting Standards and the regulations made under the Charities A 2011, the Charity (Accounts and Reports) Regulations 2008 and the provision of the trnst dced. Thcy are also responsible for safegLTarding the assets of thc charity and hence for taking reasonable steps for the preventioll aud dctectioD of fraud and other irregularities. On behalf of the trustees Mr C. Hughes- Chairperson Date: .
Report of the IndepeDdent Examiner to the Trustees of The Tenby Rellef in Need and Pen$lons ChArity We have examine4 without carrying out an audit, the accounts for the year ended 3141 December 2023 set out on pages 51X to eleven. These financial statements have kell prepared under the historical cost convention and accounting policies set therein Respective responsibllltles of the charlty's trustees and examiner As described on page two the charity's trustees are responsible for the preparation of fllwicial statements in acconlance with applicable law and United Kingdom Accounting Standar(ts. The charity's trustees considers that an audit is not required for this year (und¢T section 144(2) of the Charilics Act 2011) and that an indepelldenl examination is needed. It is my responsibility to= examin¢ the a¢untS under section 145 of the Charities Aet 2011, to follow th¢ procedures laid down in the General Directions givcn by thc Chwity Commissioners under seclioD 145(5)(b} of the 2011 Act.. and to state whether particular matters have come to my attention. Basis of independent ex8miner5 report My cxamination was carried out in accordance with the General Directions given by the Chartty Commigsion. An examiDation includes a fttview of the accowiting records kept by the charity and a compaTison of the accounts presenttyj with those records. It also include8 consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as the con)mittee of management concerning such matter6. Th¢ pTh)cedures undertaken do not provide all the evidence that would be required in an audit and, conseqll¢ntly. we do not express an audit opinion on the VI given by thc accounts. Independent Examiners Stgtement In the course of my examination. no matter has ¢(mie to my attention" (i) which gives me reasonable cause to believe that, in any material re4)ect, the tTUStees have no¢ md th¢ requIremts to ensure that". proper acwunting records ar¢ kept in accordance with section 130 of the ChIlLeS Act 2011. and accounts are prepared which agree with the accounting record and to comply with the accounting requirements of the CIMrities Ad 2011 have not been mel. or to which, in o)Jr opinion, attentlon should be drawn in order to enabl¢ a proper understanding of the accounts to be reached. (li) Dated:............................... I.D. Badham F.C.C.A Ashmole & Co. Chartered C¢rtifi¢d Ae¢ountants Williamston House 7 Goat Street Haverfordwest Pembrokcshire SA61 IPX
THE TENBY RELIEF IN NEED AND PENSIOIYS CHARITY STATEMEf4T OF FINAI¥CIAL ACTIVITIES for the ye8r ellded 31 Detember 2023 UDrestricted Vermanent Unre8trlcted Extraordln4ry Endowjllent General Fmnd Repir Fund Fund Totsl 2023 Totll 2022 Incoming Rewurces Incoming r¢50urcesfrom gener¢Ued]unds Jnvulmenl income Investment Income Bank Interest Building Society Interest Incoming resourcesfvm chariiable aaiviti Rent Rtteived 22,811 178 22,811 178 20,459 24,929 47,918 24,929 47,918 20,408 40.892 Tolal incoming resourcaf Resour¢es ExpeDded CharitahleActivilie.f PensioJk8. Cash, Benefrts Cl¢rks Salary IJLsufdnces Professional Fttg Repairs & Renewalq Sundry Expenses Rent 26,620 4,200 457 641 360 26,620 4.200 457 641 360 23,572 6,300 800 594 420 300 300 3(x) 32,578 32,578 31,986 GovernaDee Costs Trustee Expenses Independent Examinati¢)n 351 351 702 702 351 351 702 702 Toldl resources e¥peKded 32,929 351 33,280 Net IDcoJningl{outgoing) res0re¢S before revaluatlfrns (14,989) (351) 14,638 8204 Other ReeDgnlsed GalDS Lomes Unrealised ILo85esYGain o Investments 5,355 28,372 33,727 (40.775) {40.775) Net Movement ofFunds 5,355 28,372 33,727 Net incothgl(outgoillg) resource8 before rev8lution$ 14,989 5J55 48J65 3257] R¢¢ontlll4tlon of Fwid$ Fujmls Brought Forward 62248 68,864 759,058 890.170 922,741 TothlFun¢ts CarriedForwttrd 77 787,079 890,170
THE TENBY RELIEF IN NEED AND PENSIONS CIIARITY BanCe Sbeet as at 31. December 2023 2023 2022 Note FIXED ASSETS Tangible Fixed AsBets 1Dve8thts 200.000 667 399 867,399 200,0 633 672 833,672 CURRENT ASSETS Accrued ID¢ome Ably¢y Nalional Buildin8 Society Bank Deposit Account Cash at Bak. Current Ac¢outtt 28.542 31275 18.648 50 5,731 31275 28,058 50 65,114 CiJRRENT LIABILITIES NET CURRENT ASSETS 71.136 56,498 938,535 890 170 REPRFSENTED BY: Unrestricted GeneTrl Fund 77.237 74,219 787,079 62.248 68,864 759.058 P¢nnanent Endowmcnt Fund 938 535 890 170 The financial Sth¢¢ments ¢)n page5 Six to eleven were approved by the tntstees on the ........................ and stgned on its behalf by. . 2024 Mr C. Hughes. Chairy)er8on
The Tenby Rellef An Need and Penslons Charlty Notss to the Financial Ststements for the Year ended 31$t De¢emb¢r 2023 J. ACCOUNTING POLICIES Basis of accounting The financial statements of the charity have been prepared in accordance with the Charities SORP (FRSSE) 'A¢¢ounting and Reporting by Chariti¢s.' Stat¢m¢nl of R¢¢ommend¢d PTacti¢e appli¢able to charities prq)aring their accounts in accordan¢¢ with the Financial Reporting Stsndard for Smaller Entities (Ihe FRSSE) (effective l January 2015),, the Finimcial Reporting Standard for Smaller entili¢s (effective January 2015) and th¢ Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, al modified by the revaluation of certaln assets. Investments Investments are included at the market value quoted as near as possible to the year cnd datc, as advised by the asset managers acting on bellalf of the Trnstees. The valuation adjustment requir&1 each year is treated as an unrealised gain/(loss) in the statement of financial aclivities. Gains or losses are only tjpated as rea]ised uwjn the disposal of an investment. Restri¢ted, unrestricted and deslgnated funds The accounts distinguish between UnstriCted resteS (The Genernl Fund), deslgnated funds {The Extraordinary Rq)air Fwid), ond pcrnianent endowment fvnds. Unrestricted funds ar¢ those where there are no exten]lY imposed restrictions on use, including those available to the charity for appropriation to reserves for internally designated purposes {designated funds). The perniallent endowment represents the properties from which income is generated for charitable puOseS, if these properties are sold the charity must invest the proceeds as part of the pernjanenl endowment. Income Income represents the amount deriv&l from the charity's ordinary activities. Income is accounted for on an aun1$ basis except for donations and investment income which are accounted for when reIved. No income is staled net of any asslated exp¢nditur¢. Reeognition of Lithbilities and Allotation of Costs Liabilities are re¢ognised when there is a legal orconstru¢tiv¢ obligation committing thecharity to pay out re50urce5. The majority of the costs are directly attributable to the objectives of the charity and are allocated accordingly. Governance costs include costs of the preparation and examination of ststutory a¢wunts and the cost of any legal advice to thlstees on governance or constitutional matters.
The Tenby Relief in Need and Pen$lon$ Charlty Notes to the Financial Statements for the Yevdr ended 311t December 2023 2. NET RESOURCES ARISING N¢t in¢oming r¢60ur¢¢s ar¢ $tst¢d 8ft¢r ¢harging . 2023 2022 Accountancy Independent Examinevs fee 402 702 354 702 3. TRUSTEES REMUNERATION None of the trustees rcceived rnuneration or expenses from the charity during the year (2022 nil). There has ken no expenditure on trusttt indemnity insurance. 4. SUPPORT COSTS Support costs comprise of the following: 21123 21122 Clerks Salary Professional fees 4,200 6300 240 4,200 6,540 5. TAXATION The Tenby Relief in Need and Pension8 ChaTity is a registered chartty and accordingly is exempt from taxatii)Th on its income and gains where thcy are applied for chilable purposes. TANGIBLE FIXED ASSETS The following land and buildings are held in the name of the Official Custodian for Charities in trust to be used in the pursuance of the charitable activilies of the Irust. Land and dwelling at 12 Deer Park, Tenby Land and dwelling at 14 Deer Park. Tenby Land and dwelling at 5 South Pade. Tenby Land al Lower Cwm Park and Chapel Hill. Tenby 2023 2022 Freehold Propety 200.000 200.000 The Freehold Properties have been valued at open market value by the twstees. aft¢r taking account of the tenanted llare of thc properties.
The Tenby Relief in Need and Pensions Charity Notes to the Financi81 Statements for the YeAr ended 31 Deeember 2023 7. INVESTMENTS Market Vilu¢ Market Value Nominal Value CAPITAL ACCOUNT 1.1.23 31.12a3 46,953.500 46.953.5(K) 65.035.8490 65,035.8490 BLK UK Bond Fund BLK UK Equity Fund 69.652 473.765 68,520 449,020 INCOME ACCOUNT 10,146.3310 10,146.3310 5,915.3130 5,915.3130 BLK UK Bond Fund BLK UK Equity Fund 15,051 43,091 601,559 14,807 40,840 573,187 EXTRAORDINARY REPAIR FUND 152.8240 152.8240 2,299.4640 2,299.4640 BLK UK Bond Fund BLK UK Equity Fund 7,072 58,768 65.840 6,671 53.814 60,485 667,399 633,672 8. CRLDITORS 2023 2022 Clerk's salary Accountancy & Independent Exarniners fee Professional Fees 4,200 3.179 6.300 2,076 240 io